News in end use

According to Realtor.com, the number of new apartments starting development has fallen significantly this year, a result of higher interest rates, declining rents, and some overbuilding.

According to the ADP® National Employment Report™, nonfarm private sector employment increased by 89,000 jobs in September and annual pay was up 5.9% year-over-year.

The construction labor market continued to slow in August, according to analysis of the JOLTS report by the National Association of Home Builders.

As of the last business day in August, the number and rate of job openings increased by 690,000 to 9.6 million and 5.8%, respectively.

Total construction spending during August was estimated at a SAAR of $1,983.5 billion, 0.5% above the revised July estimate of $1,973.7 billion.

The national medium payment applied for by applications increased to $2,170, up from $2,162 in July, according to an index by the Mortgage Bankers Association.

Redfin reported that during the four-week period ending on September 24th, roughly 6.5% of US homes for sale had a price drop—up from 5.8% a month earlier.

The National Association of Realtors® Pending Home Sales Index (PHSI) fell 7.1% month-over-month in August to a reading of 71.8.

Real GDP was basically unchanged in July, following a 0.2% decline in June. Service-producing industries inched 0.1% higher, while goods-producing industries declined 0.3%.

Personal income (PI) increased 0.4% in August; disposable personal income (DPI) increased 0.2%; and personal consumption expenditures (PCE) increased 0.4%.